Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.
On September 28, 2017, the Company appointed James H. Graves as a member of the Board of Directors of the Company to fill the vacancy created by the previously announced resignation of John N. Foy. Mr. Graves will serve a term expiring at the 2018 Annual Meeting of Shareholders. Additionally, Mr. Graves was appointed to the Audit Committee of the Board of Directors, effective September 28, 2017. The Board has determined that Mr. Graves is independent under Rule 5605(a)(2) of the NASDAQ Listing Rules and an “audit committee financial expert” as defined by Item 407(d)(5) of Regulation S-K. Also on September 28, 2017, the Board of Directors reduced the size of the Board of Directors from 13 to 11, eliminating two directorships that were previously subject to designation rights of institutional shareholders.
Mr. Graves, 68, has served as Managing Director and Partner of Erwin, Graves & Jones, LP, a management consulting firm located in Dallas, Texas, since January 2001. Mr. Graves also served as Executive Vice President of Financial Strategy for DeviceFidelity Inc., a financial services technology company, from March 2008 through September 2012. Mr. Graves served as a director, Vice Chairman of the Board of Directors and Chief Operating Officer of Detwiler, Mitchell & Co., a Boston-based securities research firm, from June 2002 until June 2006. Prior to that, Mr. Graves held various positions, including Chief Operating Officer, with J.C. Bradford & Company, a Nashville-based securities firm. He also worked for Dean Witter Reynolds, Inc. as the head of the energy group and later as head of the industry investment banking groups in New York. Mr. Graves currently serves as a director at Hallmark Financial Services, Inc., where he has served since 1995, and First Cash, Inc., where he has served as a director since 1996. Mr. Graves also serves as a director of various privately-held companies, including BankCap Partners LP and a healthcare technology company.
There are no family relationships between Mr. Graves and any other executive officer or director of the Company. The Company is not aware of any relationships or transactions in which Mr. Graves has or will have an interest, or is or was a party, requiring disclosure under Item 404(a) of Regulation S-K.There is no arrangement or understanding between Mr. Graves and any other persons to which Mr. Graves was appointed as a director.
Upon his appointment to the Board of Directors, Mr.Graves became entitled to a prorated portion of the non-employee directors’ cash compensation, and will receive a restricted stock award of 700 shares of the Company’s common stock under the Company’s 2015 Stock Incentive Plan, representing a prorated portion of the non-employee directors’ equity compensation, each as described in the Company’s proxy statement for the 2017 Annual Meeting of Shareholders.
On October 2, 2017, the Company issued a press release announcing the appointment of Mr. Graves to the Board of Directors. A copy of the press release is attached to this report as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Press Release dated October 2, 2017
Atlantic Capital Bancshares, Inc. ExhibitEX-99.1 2 pressreleasejgraves.htm EXHIBIT 99.1 Exhibit NEWS RELEASE FOR IMMEDIATE RELEASE Contact:Date: October 2,…To view the full exhibit click
About Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI)
Atlantic Capital Bancshares, Inc. is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a full service, locally-managed commercial bank. The Bank provides an array of credit, treasury management and deposit products and services to growth businesses, middle market corporations, commercial real estate developers and investors, and private clients. Its wealth management division offers financial planning, trust administration, investment management, brokerage and estate planning services. It also provides selected capital markets, mortgage banking, and electronic banking services to its corporate, business and individual clients. Its private banking credit products include loans to individuals for personal and investment purposes, such as secured installment and term loans, and home equity lines of credit. Its specialty corporate financial services include payments industry banking, financial institutions banking and capital markets services.